Japan Unveils Package to Ease Rising Living Costs
According to a news agency, the measures, including a "gasoline tax cut," are anticipated to gain approval from the Cabinet on Friday.
The supplementary budget is projected to reach 17 trillion yen ($109.2 million), significantly higher than last year's 13.9 trillion yen ($89.3 million).
During the July-September quarter, the Japanese economy experienced its first contraction in six quarters, as rising prices slowed "consumer spending."
Under the stimulus package, the government intends to offer subsidies for "electricity and gas bills" for the initial three months of the upcoming year.
Additionally, the plan will provide monetary support to local authorities so they can implement independent initiatives, such as "rice vouchers," to counter the effects of increasing prices.
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